Tata Steel has acquired Corus, a major steel manufacturer – and has consequently catapaulted itself from a fifty something largest producer of steel to a top ten.

There is something eminently satisfying to see the confidence of corporate India to go on an acquisition spree abroad – after all, apart from the fact that it defines the building strength of the Indian economy, it also displays the maturing of the corporate India’s management class – that they feel they can take over a steel manufacturer in Europe for 8 billion dollars and align synergies on a global manufacturing scale.

The Economist also has an article on this – would have put a link here but then, its a subscription only site.

All in all, heartening news indeed.